before this Court is a 'Non-
Banking Finance Company' ('NBFC' for brevity). That the sole respondent is a
http://www.judis ... NBFC has been set out in the claim petition which has been placed before this
Court as part of case file.
5. NBFC
assessee being a Non-Banking Finance Company (NBFC), are not engaged in
the business of buying and selling of motor vehicles, have no right, title ... Supplementing the above stand, the assessee contended that they
being NBFC are not in the business of buying and selling motor vehicles. They
also empowered to issue directions to the auditors of NBFC to order special audit of NBFCs, prohibit acceptance of deposits by NBFCs and for filing ... changed its name to SIFCL, with effect from 23.11.1994. SIFCL is an NBFC and is, thus, under the regulatory control of RBI, as per Chapter
Reserve Bank of India, registered the company as Non
Banking Financial Company (NBFC) on 20.08.1998. The Company is
mainly engaged in the activity of financing ... appreciate that your Appellant Company is an
approved Non Banking Finance Company (NBFC) whose main business is
Financing & Investments. The NBFC Companies have been
Bank of India has power to cancel the CoR granted to an
NBFC under Section 45-IA of the RBI Act in case of contingencies ... dated 20.04.1999, specified Rs.200 Lakhs as
NOF requirement for an NBFC to commence or carry on the business of
http://www.judis
parties with reference to the
ledgers/accounts produced by the
concerned Banks/NBFC.
(vii) The amount due as fixed by the Committee shall
be collected ... Bank/Non Banking Finance Company [hereinafter referred
to as "NBFC"] from aggrieved party in cases where the
respective jewel is re-pledged
Director and concluded that certain
companies in the scheme were carrying on NBFC activities and approval of
Reserve Bank of India had not been taken ... Regional Director required compliance of two conditions for being treated as
NBFC namely that the company should satisfy that more than 50% of its assets
Aditya Birla Finance Ltd, a well known Non-Banking Finance
Company (NBFC). In order to facilitate the equity funding of the assessee
company, SGJHL formed ... Alex Mercury Pvt Ltd
d) M/s Carvan Creation Pvt Ltd (NBFC)
e) M/s Alex Energy Pvt Ltd
5.2. The assessee company, investing company
year of receipt did
not make any mention of cooperative banks and NBFC's, hence it was
obligatory on the part of the assessee ... year of receipt did not make any mention of cooperative banks and
NBFC's, hence it was obligatory on the part of the assessee
Bank of
India(RBI) to conduct business as Non-Banking Finance
Company(NBFC), which is a mandatory requirement for conducting
business of Finance, Investment ... record any licence/approval granted
by RBI to carry on business as NBFC which is a mandatory
requirement for any NBFC to carry on business
